1. Deficits and the National Debt
Unit 15.3

2. The Federal Deficit and Debt
Budget Surplus
Budget Deficit
Deficit Spending
National Debt

3. Causes of the Deficit National Emergencies
Need for Public Goods and Services
Stabilization of the Economy
Role of Government in Society
Raising Money for Deficit Spending
Treasury Bills: Less than a year
Treasury Notes: 2 to 10 years
Treasury Bonds: 30 years

4. The National Debt Size of the National Debt
Approx $19, 913,376,000 as of 18 May 17
Effect of the Deb on the Economy
Crowding-out effect